Nelson Peltz's Trian Fund Management has teamed up with Flynn Group, BlueFive Capital, and Sixth Street Partners on a non-binding proposal to take Wendy's private for 7.35 dollars a share in cash.
Based on the 194.0m fully diluted shares assumed in the offer letter, the proposal values the burger chain's entire equity at roughly 1.4 billion dollars. A newly formed entity would acquire every share the investor group does not already own.
Funds managed by Trian and related parties already hold about 16.3% of Wendy's, and they intend to roll that stake into the new structure. The rest of the cash would come from equity provided by Trian, Flynn, Blue Five, Sixth Street, and others, with executed equity commitment letters to be delivered when definitive agreements are signed.
Source: PE Insights · Summarized by HeadlinesBriefing